Volatility remains sovereign. Markets fearful of the impact of sanctions also on the European economy
Another negative session for the European stock exchanges: while Moscow sends a convoy of over 60 km to Kiev and the talks between Russia and Ukraine will resume just in the next few days, with a stalemate of the first negotiations, the lists of the Old Continent are still traveling in decline in the second weekly session after the contrasted closing of Wall Street and the Asian price lists oriented upwards.
After a weak opening, the drop in European equity indices thanks to the sales on utilityon the travel sector and on technology titles, are becoming heavier. TO half sitting the lists suffer heavy losses: Paris loses 3%, Frankfurt 2.7%, Milan 2.7%, Amsterdam 1.9% and London 1% with sales that hit the travel sector first and foremost and transportation, retailers, cars and utilities. At the end of the session, however, Paris loses 3.94%, Frankfurt 3.85%, Milan 4%, Amsterdam 2.23%, London 1.72%.
In Milan, where the Ftse mib is back below 25 thousand points and is at their lowest since July 2021, Moncler sells 6%, in the financial sector Intesa Sanpaolo and Finecobank lost more than 5%, Iveco also down 5%. Leonardo (+ 2.4%) is saved, favored by the natural attention of investors for defense activities in this phase and by the possibility of a reorganization of Oto Melara and Wass. Eni also went against the trend (+ 0.6%) with rising crude oil prices and Terna (+ 1%). At the end of the session: Moncler (-9.12%), Iveco (-7.12%), Intesa Sanpaolo (-7.72%). Eni rises (+ 3.04%), Terna (+ 1.83%).
“THE markets are still being driven by news coming from the front and investors are monitoring potential escalation sanctions against Moscowwhich it might have an impact on the Russian but also on the European economy“he noted John Plassardinvestment specialist of Mirabaud. The focus is on the chances that after the first meeting between the Russian and Ukrainian delegations, the dialogue will continue and be able to lead to concrete consequences to stop the ongoing conflict.
The war in Ukraine continues to raise the price of oil. The Wti barrel at Nymex it exceeded $ 101, the highest price since July 2014. The barrel had already exceeded $ 100 after last Thursday the Russian attack on Ukraine. Right now, it rises 5.7% to $ 101.17 a barrel. Yesterday, Canada decided to ban all imports of Russian oil, but so far it is the only state to have directly affected President Vladimir Putin’s energy sector. Since the beginning of the year, the WTI oil price rises by about 33%. At the end of the session, the Wti oil it grew by 8.65%.
Gas: new price jump, + 16% for April delivery to 115 dollars
The rush to the rise in the price of gas while from Ukraine there are news of a new strong military offensive by Russia. At the Amsterdam stock exchange Gas for delivery in April is now quoted at $ 115 per kilowatt hour, an increase of over 16% compared to yesterday. At the opening of the session, the price was recorded at 105 dollars, 7% more than yesterday.
On the currency, the ruble recovers ground on the dollar and the euro
On the currency market, the dollar strengthens against the euro: the exchange rate falls back to 1.1171. Money on the Japanese yen and the Swiss franc, while the ruble is about to turn around compared to this morning: the exchange rate between the dollar and the Russian currency returns to rise by 2% to 96.8. On the government bond market, the 10-year Bund yield returns to negative (-0.02%) and that of BTPs falls to 1.53%. Gold rose to 1924 dollars an ounce (+ 1.2%). Meanwhile, trading on shares and derivatives at the Moscow Stock Exchange will remain closed in today’s session.
The Russian central bank said it will report on the future of the operation before 6am Wednesday. Even yesterday, the Moscow stock exchange remained closed for the entire session, to avoid a collapse in prices. The ruble reached an all-time low, losing a third of its value despite the institution led by the central bank Elvira Nabiullina Russia more than doubled its reference rate.
Ukraine, Le Maire: “We will cause the collapse of the Russian economy”
Meanwhile, speaking of sanctions in Moscow, in an interview with France Info Radio French Finance Minister Bruno Le Maire explained that the NATO blockade “will cause the collapse of the Russian economy” and the sanctions, he added, “will also bring suffering to ordinary Russian citizens”.
(Continued …)
#Ukrainian #war #sinks #Milan #Oil #gas #rally